Tobias Punga is German living in London where he works in finance. In 2019, with the help of Prestige’s agent Juliette, he purchased a magnificent villa up the hills in San José which he refurbished. Find out more about Tobias’s personal journey in the below interview:
Tell us a little bit about your first experiences in Ibiza…
Every island or destination I’ve been to had a unique signature experience… the party place, the spiritual retreat, the family oriented environment etc…. Ibiza struck me that it encompassed it all. Everyone found something that made them fall in love with the island… to each his own and Ibiza owned it all.
What made you want to buy a property in Ibiza?
The idea was to have a place that can be shared by my family and friends. An open hang out for who is important to me already and who might be in the future. A place for all sort of talent to mingle; exchange thoughts, and having a fun time.
What kind of property were you looking for and why?
A spacious place that can be changed in a way so I can have an impact, but still respecting the style and rules on the island, and still leaving my own personal touch. Big enough to host a decent sized group, close enough to the airport, but not getting disturbed by the noise, and having nice beaches and Ibiza town in close reach.
What points were you willing to compromise on and where did you draw the line?
Enough rooms, sea view, not too far from the airport, and south facing were points I did not want to compromise on.
Tell us a bit about your general experience of searching for a home in Ibiza?
The offers I saw in Ibiza were either overpriced or the quality I found wasn’t satisfying. It took me more than 3 years to find the perfect set up.
What were the biggest challenges you faced during the search process, and was Prestige able to help you overcome some of these?
They key is to look at as many opportunities as possible and sharing with the agent in detail what you are looking for to make the search process as efficient as possible – important for seller, buyer and agent in the end to not waste anybody’s time.
Once you found your ideal property, how smooth (or turbulent) was the process until finally signing at notary and making it your own.
It was a rather turbulent process, as the seller was more than 10 individuals that resided in three different countries. Any negotiation was therefore a little longer than in any usual sales process.
What would your main advice to other home buyers, about to embark on a similar journey, be?
Use a qualified agent, a talented architect, interior designer & construction companies, a knowledgeable lawyer, and spend enough time searching.
Overall, what difference do you think working with Prestige made in your journey of finding and buying your dream property in Ibiza?
Showing the profile I asked for ;).
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
A Prestige Buyer’s Journey: Meet Jeroen
Jeroen is Dutch and lives in Amsterdam where he owns his own Media Agency. In 2018, with the help of Prestige’s agent Inge, he purchased a lovely terraced house in Roca Llisa, near the golf course. Find out more about Jeroen’s personal journey in the below interview:
Tell us a little bit about your first experiences in Ibiza…
1988 was the year that I came to the island for the first time. I remember that Sa Trinxa was booming at the time: they were the first to translate house music to the club scene. Parties would just start because a bunch of people came together and there was music, the vibe was truly miraculous. Of course, more people realized.
What made you want to buy a property in Ibiza?
First of all because I was looking for a location abroad with a steady, warm climate which wasn’t too far by plane. More importantly the beauty of the island mesmerized me. I love the fact that you can find places where there is much to do, but also can find peace and solitude. And everything within a relatively small island.
What kind of property were you looking for and why?
To be honest, I wasn’t looking for a place where lots of renovation would be involved. I wanted something easy, accessible and of course something which made me feel at home right away. Ah, and of course something with a view.
What points were you willing to compromise on and where did you draw the line?
Sea view was something I’d love, but wasn’t a hard requirement. However, I really did want a swimming pool (private or shared) so you can cool off during the hot summers. I also wasn’t too keen on having property in Ibiza town.
Tell us a bit about your general experience of searching for a home in Ibiza?
You really need to clear time in your agenda as properties move fast and you have to be flexible to visit the island in order to view the house. It’s also difficult not to make too many compromises and find the home you really want, so patience is key.
What were the biggest challenges you faced during the search process, and was Prestige able to help you overcome some of these?
It’s important to make your wishes as clear as possible, however it’s also nice when they come with an ‘out-of-the-box’ property which you wouldn’t have thought of right away. As it was my first experience with buying abroad, I thought it was rather challenging to keep an eye on the different rules and laws. For me it was super important that for this reason I was doing business with people who I could trust, as I wasn’t familiar with many of the local laws.
Once you found your ideal property, how smooth (or turbulent) was the process until finally signing at notary and making it your own.
To be fair: everything went pretty easy. Of course, it’s completely different compared to buying something here in the Netherlands, in terms of viewings and checks of the property. I remember myself thinking when I signed a few weeks later at the notary: "Okay so that’s it, I own a house now".
What would your main advice to other home buyers, about to embark on a similar journey, be?
If it is something you really want to do, do it. But don’t forget that you will probably have a lot of struggles too. But that comes pretty much with every house. You need to find your way around, get to understand how things works, and the only way of doing so is by just diving into it.
Overall, what difference do you think working with Prestige made in your journey of finding and buying your dream property in Ibiza?
Their kind and personal approach was very helpful. Finding a property takes time, so you need to have a good relationship with your real estate agent.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
A Prestige Buyer’s Journey: Meet Melissa
In the Spring of 2014 Melissa Spero and her husband walked out of the notary with the keys to their dream home in their hands. At last, after 12 months of searching, visiting, deliberating, etc. they were ready to finally realise their dream of a second home in Ibiza. After the purchase they embarked on the journey of transforming the property into a place that corresponded even more with their vision and after 12 months of a full renovation they were finally able to spend their first summer in their new home Los Olivos. Read here the unique journey of Melissa and her husband…
Prestige Properties: Tell us a little bit about your first experiences in Ibiza…
Melissa Spero: I first came to Ibiza in my 20s and was immediately struck by its energy, light and stunning natural beauty. From that moment on, I knew I wanted to live here at some point in my life. It took another twenty years of solid graft to get here but I made it in the end!
What made you want to buy a property in Ibiza?
I wanted a sanctuary from the hard life of working in London, but I also wanted to have a place where I was surrounded by open minded people from all walks of life. Ibiza is unique in that sense – to be able to live in such beautiful natural surroundings with such a diverse and ever-changing community of people is what makes it so special. Also, the dramatic difference to life on the island in different seasons means that it is like living in four different places every year so that ensures things stay interesting. It is also super easy to hop on a flight back to the UK whenever you need to.
What kind of property were you looking for and why?
We started off by wanting a property in the campo where we had a view of the sea and sunsets. Mid-way through the search we got seduced by some lovely houses which had neither of those things and thank god the house we eventually bought had both.
What points were you willing to compromise on and where did you draw the line?
I thought I had been willing to compromise on a sea view, but eventually I realised I wasn’t: what’s the point of living on an island if you can’t see the sea? I’m also so glad that the house is located centrally – great for beaches but also really convenient for Ibiza town (which I love), schools and the airport.
Tell us a bit about your general experience of searching for a home in Ibiza?
Hard work – along with Prestige I spent hours scouring the internet for suitable places. I got totally carried away at one point and got way out of my budget. Luckily the place that Prestige found for us ticked every box.
What were the biggest challenges you faced during the searching process, and was Prestige able to help you overcome some of these?
We wanted to cast our net really wide and Prestige told me that in addition to their own properties they work with other agents on the island so if I saw something, Prestige would organise it all for me and make it as pain-free as possible with the other agency. When you don’t have the luxury of time, this approach is fantastic.
Once you found your ideal property, how smooth (or turbulent) was the process until finally signing at notary and making it your own.
Prestige made the process super easy and efficient – they talked us through the necessary steps we had to take and it was went extremely smoothly.
If you have experience buying property in other countries, is there something that makes the process in Ibiza stand out in a particular way?
You have to forget your experience of buying a house in your home country – lots of old properties here don’t have the correct papers but that is the norm here so keep your nerve. As long as you have a good lawyer and are working with a good agency you will be fine!
What would your main advice to other home buyers, about to embark on a similar journey, be?
I’d say, explore every inch of the island. Because it’s in mode at the moment, people automatically look for properties in the north of the island, but the areas like Buscastell and Benimussa, near San Rafael where our house is located have everything – breathtakingly beautiful countryside, the best sunsets and beaches, as well as being close to amazing Ibiza town and Dalt Vila – where life remains during the winter months.
Overall, what difference do you think working with Prestige made in your journey of finding and buying your dream property in Ibiza?
Without Victor at Prestige, we wouldn’t have brought our dream house and I would probably still be taking the tube to work every day in London – so I’d say the difference was life changing!
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
THE APIBIZA PROPOSES A REGULATION OF THE REAL ESTATE SECTOR IN THE BALEARICS
In recent real estate industry news, the Association of Real Estate Professionals of Ibiza (APIBIZA), a member of the PIMEEF, presented several proposals for the regulation of the real estate sector in the islands before the Conselleria d’Habitatge i Mobilitat, that is, regulating the requirements to carry out the activity of real estate agent in the Balearic Islands.
One of the proposals was to establish a sanctioning regime with fines of not less than € 20,000 for those agencies and / or persons without the adequate qualification.
They also argued that demonstrable malpractice should result in immediate expulsion from the registry.
In addition, it has requested to be able to report through simple tools and that real estate agents should be required to have at least university studies related to the sector or training in accredited centers or at least 5 years of proven experience in the sector.
On the other hand, it has requested that the sale and purchase transactions, the registration of real estate agents and the obligation to publish on their websites the real estate agent registration number have to be notarized beforehand.
The Association of Real Estate Professionals of Ibiza has shown its satisfaction for this proposal to regulate the real estate sector of the islands in defense of this highly invaded sector and to protect consumer rights.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Prestige Properties: your best real estate option in Ibiza
Living in the countryside, surrounded by nature, and incorporating a more sustainable lifestyle has never been a more desirable life choice, than this year 2020, since the start of the pandemic.
From the summer of 2020 and onwards, the media have been reporting the consistent interest of the general population to escape from the globe’s busiest cities and to return to the countryside, whether in the short or long-term. People have been actively fleeing overcrowded cities, noise, and pollution, and alternatively seeking a drastic change, with life out in the open, in quiet and sparsely inhabited spaces; all to be as far away as possible from the adverse effects of the virus.
One of the main benefits of living in the countryside is the purity of the air. The reason is very simple, the low volume of vehicles and environmentally damaging components mean air pollution is low. In fact, a study by the UK’s Department for Environment, Food and Rural Affairs reveals that people living in the countryside have fewer respiratory problems due to this very reason.
Personal well-being and the practice of "Slow Living" is also a key benefit of countryside living. A lifestyle that invites individuals to become more aware of themselves, achieving a greater connection with Mother-Nature, and ultimately appreciating all that is good and beautiful in their surroundings and daily lives.
Imagine the scent of a wild rose… Or the sound of goldfinches singing and fluttering around at sunset… In practicing mindfulness, we learn to appreciate the beauty of nature and the multiple benefits of the rural world, developing an inherent sense of gratefulness, which is said to increase happiness and general well-being. Through slowing down and developing awareness, we ultimately improve our mental health and prevent disorders such as stress and anxiety.
Adapting to a "slower" lifestyle can initially feel difficult and the change quite abrupt. However, when considering our sensory dependence on the over-stimulation generated through contact with the city, initial ‘teething-periods’ and uncomfortable feelings are to be expected. Research demonstrates adaptation is usually quick and brings about very positive long-term changes, including an increase in energy due to the improvement of the quality of sleep, and its effectiveness in repairing and restoring cells to optimal health. In fact, in the United Kingdom and Ireland, doctors have begun to integrate into their prescriptions the idea of going for walks in nature as a measure to alleviate stress and improve mental and physical health.
In July of this year, Esquire Magazine talked about ‘The New Ibiza’, in which it drew parallels with the Ibiza of the ´80s, where visitors flowed with the breeze and to the rhythm of the New Age sound of Sade, connected with nature and its artistic sensitivity. Maybe some of you still remember?
Living in the countryside: The village of Buscastell, Ibiza
Today, we wanted to introduce you to one of the "healthiest" and most natural villages on our island: Buscastell. This small village of about 1,000 inhabitants, located between San Antonio and San Rafael, in the center-west of Ibiza, is the picture-perfect setting for those interested in the benefits of living in a rural setting.
Buscastell is an agricultural area with five square kilometers of fertile and cultivable land, distributed across beautiful Ibicencan terraces on different levels, and, not to mention, where the spring of es Broll resides, the most important aquifer of Ibiza. The feeling here is one of absolute peace and tranquillity.
Amongst the orchards, the murmur of the water coming from the torrent follows its course with small rises, passing pools, and numerous canals and ditches whose origins date back to the period of Arab domination.
It is here in Buscastell, where the prestigious architect Jaime Romano, created one of his most renowned projects: Villa Natura Buscastells. The property is the perfect blend of an authentic estate with all the modern comforts for contemporary living.
This property for sale has a fertile 80,000 m2 plot of land, with enough space to have your own vegetable allotment, and even start a new business venture, using the area’s natural resources in a sustainable way.
The gardens are filled with flowers, plants, fruit trees, and a large vineyard as well as boasting an impressive 20-meter infinity pool, with plenty of chill-out spaces and outdoor showers.
The 450 m2 house is located in the southern part of the plot. From the main room and all of the bedrooms, the views overlook the wondrous valley in front. The spacious living room and dining room linked with an open-plan approach and huge sliding glass doors connecting the internal and external areas. The kitchen is certainly one of your favourite spaces, perfectly equipped for authentic Ibicencan and homemade cooking.
Villa Natura Buscastells also has a total of four spacious and luminous double bedrooms with en-suite bathrooms. The Master is an outstanding room with views over the valley and sliding glass doors that can be hidden into the walls, creating a unique open and infinite feeling with the great outdoors.
If your dream is to be able to live with your family in Buscastells, don’t forget that the small village also has a public rural school for Infants and Primary School. And if you want to practice sport, there are also many routes and paths for hiking and cycling in the area.
We want to promote the continuous journey of improving health and quality of life! Everything can start with a simple step; exchanging your busy city lifestyle for a country home on the wonderful island of Ibiza could be the first one to take.
Interested in knowing more about the Municipality where Buscatell resides, San Antonio de Portmany? Then check out our in-depth guide and property article here.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Why you should sign an exclusive mandate with Prestige Properties
Many people ask us why they should offer us their property exclusively, if they can also offer it to other agencies and thus have access to more customers and have a greater possibility of sale. This is a good question, but it turns out that in fact this logic is less favorable for a sale than it seems at first sight.
We are one of the most steady agencies in Ibiza with more than 35 years of experience and therefore, we have access to a very plentiful client portfolio. The reality is that, as Ibiza is small, many clients make what is called "agency shopping", which means that they call or go through several agencies and charge all of them the same searches.
As many agencies have the same properties, there begins the struggle for customer protection with the owners – this means that every time an agency offers its property to a customer, the seller has to sign and confirm that this customer has not been previously submitted by another agency. Therefore, they will have lists of client names for each agency to control the protection of each client – in cases that have signed with an agency for a client, and then are forgotten and another agency is presented with the same client and the sale is made legally, will be obliged to pay the two agencies their full commissions (in total about 10%) – these cases must be avoided having everything well controlled.
Working with just one agency, the owner does not have to deal with the issue of customer protection – because all customers will go through this single agency. As we collaborate with the biggest and most professional agencies in Ibiza, through the Association of Real State Professionals called APIBIZA, as well as with international portals like Rightmove and Zoopla, the owner does not lose access to any potential clients.
Another very important benefit of having a single agency managing the sale of your property is the control over the marketing of the property. Like all products, in order to be able to sell at the best price and in a desired period of time, you have to create a marketing strategy customized to the product. As Product and Marketing Manager, I would be personally managing the commercialisation and marketing for your property. To begin with, we would offer your product through our internal networks to selected customers. Our exclusive product marketing service also includes a professional photo report, floor plans and a video drone of the interior and exterior of the property. Then we select some agencies and portals to publish the house in a uniform and controlled way – the worst thing that can happen to a product, is to be published on too many websites, without selectivity, and with disinformation – Serious customers are looking for Several sites and will quickly realize if a product appears everywhere, devaluing the product – in high ranges as their product, the exclusivity is a very important factor in the decision to purchase customers. When a product appears wildly and with erroneous information in the market, it does irreparable damage to its value.
Therefore, the control of each customer viewing with each "feedback" for a correct sales follow-up will be more effective when is analyzed in only one central point.
For the seller, having access to 100% of potential customers and at the same time receiving a personalized and exclusive service from a single agency, ensures that the sales process is a pleasant and comfortable experience at all times.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Blakstad architectural history: The Traditional Ibicencan Finca
The traditional "Casa Ibicenca" essentially conformed to a broad room [porxo] that has an entrance on one long wall and a succession of rooms opening off the other three walls. The porxo was used as a living room and work place. Little chairs were lined up against the walls and a table set on one side. If needed, the table was moved to the centre of the room and chairs set around it. This gave the room adaptability for various activities. Windows in ancient Ibicencan houses were very small and did not contain glass. They were not used primarily for light, but for air; light, and warmth generally came from the south-facing front door. Here you could see farmwomen shelling almonds, embroidering or spinning wool. The farms themselves differed from those on the other Balearic Islands, in that they were generally smallholdings. Although these were self-sufficient, the families on them relied on the help of their neighbours for the olive harvest, or on matanza day.
These houses were built and rebuilt well into the mid-twentieth century, using the biblical ‘long cubit’ [approximately 52.5cm], a unit of measurement introduced along with the architecture by the Phoenicians. There is virtually no evidence of Hellenistic, Roman or Islamic influences of any importance in the basic design elements of a rural Ibicencan house.
The cultural invasion of the island has changed the agricultural-based economy to one of tourism, making continuity with the past next to impossible. Basically, it has rendered many traditions irrelevant today."
In 1956 Rolf Blakstad came to Ibiza from Canada and was so impressed by the city he found when arriving at the port that he barely left the island since then. The little houses in Dalt Vila, the people in the street, the nearness of the manners… As he himself said:
"The whole city, even the streets, had the informal air of a living room shared for everyone. We did not feel as foreigners"
Once Ibiza was established as his permanent residence, Blakstad started to study the rural houses and the traditional building techniques while he developed a deep respect and fondness for the Ibizan culture and its natural environment. It’s in Ibiza where he starts his work in the field of architecture, restoring rural houses and, lately building new ones inspired by the millenarian "casa payesa" (traditional Ibizan rural house). Soon, his sons became part of his projects and, nowadays, they are the ones that keep running the architecture studio in Ibiza.
Ibiza, November 2017
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APIBIZA – Don’t be led astray, choose the safe way
In this blog we would like to introduce you to APIBIZA: a recently established Association of Real Estate Professionals in Ibiza, of which Prestige Properties is proud to be one of the founding members. The goal is to combat the increasing activity of so-called "real estate pirates" on the island and to minimise fraudulent, unprofessional and disappointing experiences amongst first-time buyers in Ibiza.
Trust only in real professionals
APIBIZA is the new Association of Real Estate Professionals made up of 20 PIMEEF (Association of small and medium business in Ibiza and Formentera) members doing realiable, long-game work in the field. APIBIZA real estate agencies have got the quality assurances to ensure a happy ending whatever the endeavour- buying, selling or renting property. Our mission is your peace of mind, so our accredited agents are here to work with you year-round, from dedicated offices and with minimum five years experience. Trust, credibility, honesty, legal savvy, commitment and dependability…these are the core values that each one of our members embodies and your guarantee for professionalism and security.
Ibiza’s most on-point team of real estate experts, at your service
APIBIZA services:
Personalised advice and legal compliance.
Counsel on land-use and legal aspects of every transaction.
Estate agents guaranteed to possess all required acceditation and professional insurance.
Not fully satisfied? We take client complaints very seriously.
Do you have any questions or need more info? Send us a message and we will get back as quickly as possible!
Overpricing – the Biggest Property Own Goal
The Playboy pad is up for sale for an incredible $200m even though realtors say it’s worth closer to $60m – $90m. Why does overpricing work against you?
5 myths that lead to overpricing & why they’re not true – for sales and lettings;
I can reduce my price as much as I need to later
Frequent price reductions are a sign of desperation in the market – making your property seem problematic &/or your situation seem desperate – not a good place to be in the property market
People will still view, offer & negotiate
Our culture is one that doesn’t embrace negotiation & offers. Most buyers will simply assume that the sellers opinion is vastly out of kilter with the market & won’t view the house.
Someone out there might pay this price
There might be someone, but more likely, there isn’t. And if there isn’t your house isn’t going to attract the right attention from the rest of the marketplace.
If that someone (see above) offers then the deal is done!
Increasingly, within our economic climate, the banks are rejecting offers made by their clients & dangerously devaluing through lower valuations. The truth is that most large purchases now are the banks, or trusts, decision.
I’ll have just as much interest in a month or two if I lower the price
Ultimately, the most interest in a property comes within the first 30 days of marketing. After that the house has a ‘history’ in the markets & buyers will be hesitant in viewing, let alone in offering.
Overpricing property often leads to;
Stagnation
Longer marketing periods
Fewer viewings
The house becoming known as a ‘sticker’ or even an unsaleable house
Lower than market price from tougher negotiation due to length on market
Your house will sell the competition – your price will make other houses look great value
Overpricing simply turns away buyers at a more realistic price point
What marketing at a sensible price leads to;
Quicker transactions
Lots of viewings
More offers
Possibly a higher than market value price if not a fair market value price
Keen realtors talking to buyers
Keen purchasers doing all they can to enact the transaction
Purchasers accepting timings & terms from the owners.
Incredulous prices are normally dictated by the owners or submitted by estate agents who want to ensure the instruction.
What to do when pricing your home;
Listen to agents & question them on their valuation
Ask for comparable evidence
Most owners have an understanding of the true value of their own home so listen to what your brain says as well as your heart
Give your agent a period of time to sell the house & then dis-instruct them, or at least add another agent to the mix. Agents know that once they have your house on their books, it’s unlikely that you’ll withdraw it from them.
Written by Ivor Campbell-Davys.
Ibiza, April 2017
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Welcome to our blog!
The Prestige Properties team is happy to welcome you to our new blog! We will be posting news and pictures not only about property but also about our lovely Island in general, its places and people.
Here we start with a beautiful picture of November in Ibiza! We hope you like it and look forward to sending some Sun to all of you during this Winter.
Sending you greetings from Ibiza.
Your Prestige Properties Ibiza Team
Ibiza, November 2015
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